MIRL.L Regulatory News (MIRL)

20 Apr 2007 16:21

Minera IRL Limited20 April 2007 MINERA IRL LIMITED ("Minera" or the "Company") 20 April 2007 GRANT OF OPTIONS Minera (AIM: MIRL), the emerging South American precious metals mining companywith assets in Peru, Argentina and Chile, announces that, on 12 April 2007, atotal of 3,440,000 options over ordinary shares of nil par value in the Company("Options") were granted to certain Directors and executives, pursuant to theMinera IRL Limited Incentive Stock Option Scheme ("Scheme"), approved byshareholders on 29 November 2006. The Options are exerciseable at 45p per share and will vest as to 50 per cent.on the first anniversary of grant and the balance on the second anniversary ofgrant. The Options shall expire after 5 years from the date of grat. Following the grant, the interests of Directors in Options is as follows: Director Options granted Resultant Option holding C C Chamberlain 2,000,000 2,000,000D A Jones 100,000 100,000R L Cranswick 100,000 100,000T E Streeter 100,000 100,000G D Ross 50,000 50,000 The Scheme permits the grant of options up to a maximum of 10 per cent. of thetotal number of ordinary shares in issue. This grant represents options overapproximately 5.6 per cent. of the current 61,780,924 ordinary shares of theCompany in issue, and represents the total number of options currently granted. END This information is provided by RNS The company news service from the London Stock Exchange